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Shriram City Union Finance stake worth INR 255 cr buys East Bridge Capital

According to the bulk deal data available with the NSE, East Bridge picked up 13.27 lakh shares, amounting to 2.01 stake in the non-banking finance company.


PTI Last Updated at 02 Aug 2018, 19:08 IST India

Foreign investor East Bridge Capital Master Fund today bought 2 percent stake in non-banking finance company Shriram City Union Finance for Rs 255 crore, through open market transactions.

According to the bulk deal data available with the NSE, East Bridge picked up 13.27 lakh shares, amounting to 2.01 stake in the non-banking finance company.

The shares were purchased at an average price of Rs 1,922.25, translating into a transaction worth Rs 255.03 crore, the data showed.

Among the sellers of the shares was Morgan Stanley Asia (Singapore), which disposed of 13.19 lakh shares or 1.99 percent stake in Shriram City Union Finance.

The shares were offloaded at a price of Rs 1,922.25 apiece, valuing the transaction at Rs 253.53 crore.

Shriram City Union Finance shares ended the day on the NSE at Rs 1,920 apiece, up 0.22 percent from the previous close.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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